Description

Beyond Budgeting - a management model for new business and people realities Ambition to Action - the Statoil journey Bjarte Bogsnes Vice President - Performance Management Development Chairman - Beyond Budgeting Roundtable Europe

Outline • The case for change - what is the problem? • The Beyond Budgeting principles • The Statoil model - Ambition to action -

Statoil in brief • Turnover and market cap approx. 130 bn. USD Arctic North Sea & Norwegian Sea • 23000 employees in 36 countries Russia • World’s largest operator in waters deeper than 100 metres • Second largest gas exporter to Europe • World leader of crude oil sales • Listed in New York and Oslo Canada Caspian North Africa US Gulf of Mexico Middle East Aus/Indo. South America West Africa East Africa Current production of oil and gas

Fortune 500 ranking (2011) Social responsibility Innovation

Managing traffic performance - one alternative Who is in control? Based on which information?

Managing traffic performance - another alternative Who is in control? Based on which information?

Which is most efficient? Which is most difficult? In which are values most important?

The world has changed what about the way we lead and manage? Stable Dynamic Business environment Traditional management ”Theory X” 8- ”Theory Y” People

Ambition to Action example People & Organisation HSE Operations Market Finance Where are we going? ”Strategic objectives” How do we measure progress? ”Key Performance Indicators” How do we get there? ”Actions”

Towards a simpler, more dynamic and selfregulating Ambition to Action process More cost conscious - less «cost cutting» More event driven - less calendar driven More translation - less cascading More relative - less absolute KPIs More transparency - less secrecy Simple is not the same as easy!

Want to hear more? 1. The problems with traditional management 2. The Beyond Budgeting model 3. The Borealis case 4. The Statoil case 5. Implementation advice Out on Wiley (US) Available from e.g. Amazon.co.uk (Now available in Russian and Japanese)

Backup

Spending wisely - the CFO on cost culture 23

The mindset required….. – cost conscious from the first penny Do I have a budget for this? Is this really necessary? What is good enough? How much value is this creating? Budget Not OK Is this within my execution framework? OK? OK OK? OK? OK? OK?

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